Denmark Starts Formal Investigation Into Danske Bank's Auditors
The headquarters of Danske Bank stands in Copenhagen.
Photographer: Freya Ingrid Morales/BloombergThis article is for subscribers only.
Denmark has started a formal investigation into the external auditors that signed off on Danske Bank A/S’s annual reports while it was allegedly being used to launder billions of dollars in dirty money through its Estonian unit.
The Danish Business Authority will focus the probe on Danske’s 2014 report, but will also look at whether auditors breached money laundering reporting rules for the whole period of 2007-2015, when $235 billion flowed through the Baltic branch.